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Czech inflation stable in August

Czech consumer prices increased at a steady pace in August, the Czech Statistical Office (CZSO) said in a statement. Inflation came in at 2.9% in August, the same rate as seen in July. Inflation had been forecast to ease to 2.8%.

The cost of housing, water and electricity provided the highest positive contribution, while clothing and footwear dropped 3%, contributing negatively, the CZSO said. Prices of goods and services advanced 2.5% and 3.8%, respectively. Month-on-month, consumer prices gained 0.1% in August.

In a separate statement, the statistics agency said that import prices declined at a faster pace of 1.7% annually in July, after easing 0.7% in June. Month-on-month, import prices slid 0.4% in July.

At the same time, export prices decreased 0.5% year-on-year, in contrast to a 0.1% rise in June. Export prices fell 0.2% from June.